Pour the wine into ice cube trays and freeze, preferably overnight (they will still be a little bit slushy). Reserve ½ a cup of wine for the blending mix.
Place the watermelon cubes in the freezer overnight as well.
Place watermelon cubes, honey, lime juice, wine cubes, and the remaining ½ a cup of wine into a blender. Blend until smooth.
Transfer to a glass and serve immediately. If you made it quite thick and slushy, you can use an ice cream spoon to serve it.
Garnish with lime, watermelon slices, or mint.
Serve immediately.